Market activity was subdued today, with the S&P 500 trading in a narrow 38-point range. Modest, compared to the 80–100 point swings we've seen in recent sessions. Once the trading range was established, we initiated a bear call spread, anticipating limited upside from morning levels.



The S&P 500 closed down 3 points on the day, and our position expired profitably, generating a return of 3.1%! This brings our total return for April to 12.4%!



Have a wonderful weekend!